Method and system for offering a credit product by a credit issuer to a consumer at a point-of-sale

ABSTRACT

A method for offering at least one credit product by at least one credit issuer to a consumer at a point-of-sale between a merchant and the consumer. The method includes the steps of: providing a credit issuer data set including a plurality of data fields to a central database; initiating a transaction between the consumer and the merchant at the point-of-sale; offering, to the consumer at the point-of-sale, the at least one credit product; and presenting, to the consumer at the point-of-sale, at least one data field in the credit issuer data set. The at least one data field presented to the consumer is populated with data directed to the credit product, the credit issuer, or any combination thereof. An apparatus and system are also disclosed.

CROSS REFERENCE TO RELATED APPLICATION

This application is a continuation of U.S. application Ser. No.14/047,791, filed Oct. 7, 2013, which is a Continuation of U.S.application Ser. No. 11/651,141, filed Jan. 9, 2007, now U.S. Pat. No.8,554,669, issued on Oct. 8, 2013, all of which are incorporated hereinby reference in their entirety.

BACKGROUND OF THE INVENTION

1. Field of the Invention

The present invention is related generally to credit systems andconsumer/credit issuer relationships and consumer/merchantrelationships, and in particular, to a method and system for offering acredit product by a credit issuer to a consumer at a point-of-sale, suchas in a person-to-person environment, online environment, etc.

2. Description of Related Art

In order to enable convenient purchases of goods and services byconsumers, the financial service industry has developed many alternativepayment methods that allow a consumer to engage in a transaction andreceive goods and services on credit. For example, such alternativepayment methods may include checks, ATM or debit cards, credit cards,charge cards, etc. Prior to the birth of virtual commerce, as discussedbelow, such payment options provided adequate convenience andtransactional security to consumers and merchants in the marketplace.Virtual commerce and the growth of the Internet as a medium for commercehave placed pressure on the payment options discussed above on both theconvenience and transactional security and profitability by the creditissuer. Currently, available payment options include significantshortcomings when applied to remote purchasers, such as purchases wherethe buyer and the seller (that is, the merchant) are not physicallyproximate during the transaction. Specific examples of remote purchasesare mail order, telephone order, the Internet and wireless purchases.

In many situations, such as at a typical point-of-sale (POS), and duringthe transaction, the consumer may wish to obtain some credit product.For example, during an online transaction at a merchant's site, theconsumer may wish to obtain a credit product, such as a standard creditcard account, an online credit account or some other similar creditvehicle. In addition, the consumer may wish to obtain that creditproduct for use in the transaction that he or she is currently engagedin with the merchant.

According to the prior art, in such a situation, the consumer appliesfor the credit card at the home page or some other page of themerchant's site. In some instances the consumer may be responding tosome displayed offer of credit issuer on the merchant-affiliatedwebsite. For example, the merchant may offer a discount, e.g., 10%discount on all purchases, if the consumer obtains that specific creditproduct. If the consumer does indeed select the option to apply for thatcredit product, he or she is directed or re-routed from the merchant'ssite to the credit issuer website. Such a situation is tenuous for themerchant, since it is never preferable for a potential purchaser toleave the website. In such a situation, if the consumer is displeasedwith the credit product application process, he or she may simplyterminate the entire transaction and find another merchant site.Further, during the application process at the credit issuer website,various technical “glitches” may arise, causing the consumer to bedisconnected from the site, misdirected from the credit issuer site,“knocked” offline, etc., all of which is a result of the movement fromthe merchant site to the credit issuer site.

One reason that the merchant must allow the consumer to be redirected tothe credit issuer site is the merchant's lack of pertinent informationand data regarding the credit product. For example, the merchant couldnot provide the appropriate terms and conditions of the credit product,nor the required Credit Member Agreement, both of which must, by law, bepresented to the consumer (and acknowledged by the consumer) beforeestablishing the credit account. Instead, this information is presentedto the consumer at the credit issuer site, e.g., at the credit issuerapplication page, since the credit issuer desires to maintain absolutecontrol over this important and dynamic data. The credit issuer maybelieve that the merchant will not display the information in therequired format, will not update the information in a timely, completeand accurate manner, will not obtain the required acknowledgements, etc.

Another drawback to the prior art is the duplicative informationrequired from the consumer during both the transaction and the creditapplication process. Since the consumer is directed from the merchant'ssite to the credit issuer's application page, many different data fieldswill require entry at both sites, again causing a less-than-desirableonline experience by the consumer. For example, during the transaction,the consumer may have already supplied to the merchant his or her name,address, telephone number, e-mail, billing address, ship-to address,etc. Then, during the credit application phase on the credit issuer'ssite, the consumer must again enter all of this information, since themerchant site and the credit issuer site are separate. This represents adeficiency in the consumer/merchant/credit issuer relationship.

SUMMARY OF THE INVENTION

Therefore, it is an object of the present invention to provide a methodand system for offering a credit product by a credit issuer to aconsumer at a point-of-sale that overcomes the drawbacks anddeficiencies of the prior art. It is another object of the presentinvention to provide a method and system for offering a credit productby a credit issuer to a consumer at a point-of-sale that maximizes theconsumer online experience. It is yet another object of the presentinvention to provide a method and system for offering a credit productby a credit issuer to a consumer at a point-of-sale that ensures thatthe most timely, complete and accurate credit product information ispresented to the consumer. It is a still further object of the presentinvention to provide a method and system for offering a credit productby a credit issuer to a consumer at a point-of-sale that ensures thatthe appropriate acknowledgements and consumer interactions are obtained.It is a further object of the present invention to provide a method andsystem for offering a credit product by a credit issuer to a consumer ata point-of-sale that allows the credit issuer to maintain control overthe credit product data, while allowing the merchant to retain theconsumer interaction. It is a still further object of the presentinvention to provide a method and system for offering a credit productby a credit issuer to a consumer at a point-of-sale that allows for thepre-population of certain consumer data in the credit application phaseof a consumer/credit issuer transaction.

The present invention is directed to a method for offering at least onecredit product by at least one credit issuer to a consumer at apoint-of-sale between a merchant and the consumer. The method includesthe steps of: providing a credit issuer data set including a pluralityof data fields to a central database; initiating a transaction betweenthe consumer and the merchant at the point-of-sale; offering, to theconsumer at the point-of-sale, the at least one credit product; andpresenting, to the consumer at the point-of-sale, at least one datafield in the credit issuer data set. The at least one data fieldpresented to the consumer is populated with data directed to the creditproduct.

The present invention is further directed to an apparatus for offeringat least one credit product by at least one credit issuer to a consumerat a point-of-sale between a merchant and the consumer. The apparatusincludes: means for providing a credit issuer data set including aplurality of data fields to a central database; means for initiating atransaction between the consumer and the merchant at the point-of-sale;means for offering, to the consumer at the point-of-sale, the at leastone credit product; and means for presenting, to the consumer at thepoint-of-sale, at least one data field in the credit issuer data set. Atleast one data field presented to the consumer is populated with datadirected to the credit product.

The present invention is also directed to a system for offering at leastone credit product by at least one credit issuer to a consumer at apoint-of-sale between a merchant and the consumer. The system includes astorage mechanism including a central database and at least one inputmechanism for transmitting, to the storage mechanism: (i) a creditissuer data set having a plurality of data fields therein; (ii) arequest, from the merchant, for at least one data field of the creditissuer data set to be transmitted, or any combination thereof. Aprocessor mechanism processes data input, data requests, datamanipulation, data transmission, or any combination thereof, and acommunication mechanism is used for transmitting, to the merchant, atleast one data field in the central database responsive to the request.Finally, a merchant output mechanism presents, to the consumer at thepoint-of-sale, the least one data field transmitted from thecommunication mechanism. At least one data field is populated with datadirected to the credit product.

These and other features and characteristics of the present invention,as well as the methods of operation and functions of the relatedelements of structures and the combination of parts and economies ofmanufacture, will become more apparent upon consideration of thefollowing description and the appended claims with reference to theaccompanying drawings, all of which form a part of this specification,wherein like reference numerals designate corresponding parts in thevarious figures. It is to be expressly understood, however, that thedrawings are for the purpose of illustration and description only andare not intended as a definition of the limits of the invention. As usedin the specification and the claims, the singular form of “a”, “an”, and“the” include plural referents unless the context clearly dictatesotherwise.

BRIEF DESCRIPTION OF THE DRAWING(S)

FIG. 1 is a schematic view of one embodiment of a method and system foroffering at least one credit product by at least one credit issuer to aconsumer at a point-of-sale according to the present invention;

FIG. 2 is a schematic view and illustrative screenshots of anotherembodiment of a method and system for offering at least one creditproduct by at least one credit issuer to a consumer at a point-of-saleaccording to the present invention;

FIG. 3 is a schematic view and illustrative screenshots of a furtherembodiment of a method and system for offering at least one creditproduct by at least one credit issuer to a consumer at a point-of-saleaccording to the present invention;

FIG. 4 is a schematic view and flow diagram of another embodiment of amethod and system for offering at least one credit product by at leastone credit issuer to a consumer at a point-of-sale according to thepresent invention;

FIG. 5 is a schematic view of yet another embodiment of a method andsystem for offering at least one credit product by at least one creditissuer to a consumer at a point-of-sale according to the presentinvention; and

FIG. 6 is a schematic view of a system for offering at least one creditproduct by at least one credit issuer to a consumer at a point-of-saleaccording to the present invention.

DESCRIPTION OF THE PREFERRED EMBODIMENT(S)

It is to be understood that the invention may assume various alternativevariations and step sequences, except where expressly specified to thecontrary. It is also to be understood that the specific devices andprocesses illustrated in the attached drawings, and described in thefollowing specification, are simply exemplary embodiments of theinvention.

The present invention is directed to a method and system 10 for use inoffering at least one credit product 12 by one or more credit issuers 14to a consumer 16. In particular, the method and system 10 implement thisoffer at a point-of-sale between a merchant 18 and the consumer 16.Further, the presently-invented method and system 10 are useful inconnection with a variety of credit products, such as credit cards,online credit accounts, debit cards, and other similar credit vehicles.In addition, the method and system 10 of the present invention can beused in connection with a variety and any quantity of credit issuers 14,consumers 16 and merchants 18.

In particular, the present invention provides a credit issuer data set20 to a central database 22. The credit issuer data set 20 includesmultiple data fields 24. Next, a transaction is initiated between theconsumer 16 and the merchant 18 at the point-of-sale. One or more creditproducts 12 are offered to the consumer 16 at the point-of-sale.Finally, one or more data fields 24 in the credit issuer data set 20 arepresented to the consumer 16 at the point-of-sale. These data fields 24,which are presented to the consumer 16, are populated with data directedto the credit product 12 and/or the credit issuer 14.

The data fields 24 presented to the consumer 16 at the point-of-sale maybe populated with a variety of data and information. For example, thesedata fields 24 may comprise terms relating to the credit product 12,conditions relating to the credit product 12, card member agreementdata, credit product offer data, credit issuer data, application data,etc. Accordingly, during the offering step and/or the presenting step,multiple data fields 24 from the credit issuer data set 20 are providedto the consumer 16 during the transaction at the point-of-sale. In onepreferred form, the multiple data fields 24 are populated with datareflecting terms and conditions relating to the credit product 12, aswell as a card member agreement data form.

By providing certain data fields 24 to the consumer 16 at thepoint-of-sale, the consumer 16 does not need to directly access thecredit issuer 14 in order to obtain the credit product 12. Instead, theinformation and data is either provided to or through the merchant 18 tothe consumer 16 at the point-of-sale. This alleviates the need for anydirect communication, access or movement to the credit issuer 14. Inaddition, the presently-invented system 10 provides the merchant 18 withthe unique advantage of maintaining and retaining the consumer 16 at thepoint-of-sale at all times during the transaction, as well as during anycredit transaction or credit product 12 presentation, application andconsummation between the consumer 16 and the credit issuer 14.

In one preferred and non-limiting embodiment, and as illustrated inschematic form in FIG. 1, the present method and system 10 is useful inconnection with an electronic transaction between the consumer 16 andthe merchant 18. Accordingly, the point-of-sale would be an onlinelocation of the merchant 18, such as a website, web page or other onlinelocation. In this embodiment, the offering step and/or the presentingstep may include displaying a web page, an electronic document, awindow, a popup window, etc., which displays the data fields 24 to theconsumer 16.

As seen in FIG. 1, the consumer 16 accesses the merchant's 18 onlinelocation through a computing device 26, such as a personal computer, alaptop, a PDA, a cellular phone, an electronic device or other means ofcommunication. Accordingly, some time during the transaction processbetween the merchant 18 and the consumer 16, the consumer 16 encountersor utilizes an interactive interface 28, which allows information, suchas the data fields 24, to be presented to the consumer 16, as well asallows for various consumer 16 input to the system 10.

In the embodiment of FIG. 1, the merchant 18 provides the credit issuerdata set 20 and/or various data fields 24 from the data set 20 to theconsumer 16 via the interactive interface 28, as well as over a networkN. In this manner, since the merchant 18 has the credit issuer data set20 available for offer and presentation to the consumer 16, the consumer16 does not need to be redirected to the credit issuer 14, such as thecredit issuer 14 site online.

It is envisioned that the central database 22 be either maintained atthe merchant 18 location or site, however, more preferably at a centralsystem 30 site, which is accessible by and/or in communication with themerchant 18. While, as discussed above, the central database 22 may bestored locally on the merchant 18 site, this may give rise to varioussecurity concerns on both the credit issuer 14 side as well as themerchant 18 side. For example, the merchant 18 may not desire to havesome updateable and dynamic central database 22 accessible by thirdparties on their site. On the credit issuer 14 side, the credit issuer14 may not desire to have the merchant 18 in control of the creditissuer data set 20, as well as the data fields 24 therein. Therefore, itappears preferable to have the central database 22 located at somecentral and accessible system 30.

Also as seen in FIG. 1, multiple credit issuers 14 may provide theirindividualized and unique credit issuer data set 20 and data fields 24to either the central system 30 for entry into the central database 22,or directly into the central database 22. The credit issuer 14 will bein communication with the central system 30 and/or central database 22through secure systems, online systems, wireless systems, over thenetwork N, etc. However, such an arrangement demonstrates the ability ofthe credit issuer 14 to access their own information and data fields 24,and provide the updated credit issuer data set 20 to the centraldatabase 22 for release to the merchant 18 and eventually the consumer16. Accordingly, this ensures that the data fields 24 and credit issuerdata set 20 are timely, accurate and comply with applicable regulationsregarding the credit issuers 14 and merchants 18.

With respect to the interactive interface 28, which is shown in variousforms in FIGS. 2 and 3, this interactive interface 28 is incommunication with the central database 22, which is located at themerchant site 18 or at the central system 30. Further, this interactiveinterface 22 is programmed or configured to display the data fields 24,which are populated with data reflecting the credit product 12 offerdata 32, to the consumer 16. Further, the interface 28 allows for oraccepts consumer 16 input data 34.

Accordingly, as seen in the illustrative screen shots of FIG. 2, someoffer data 32 may be presented to the consumer 16 during thetransaction, such as an indication that the consumer 16 is eligible fora specific credit product 12 or multiple credit products 12. In thiscase, the consumer input data 34 would be some response to this offerdata 32, such as whether the consumer 16 is interested or notinterested. Next, the interactive interface 28 is in communication withthe central database 22 and used for displaying the data fields 24populated with data reflecting credit product application data 36. Suchapplication data 36 would include the data fields and requests necessaryfor the consumer 16 to complete an application for the credit product 12for delivery to the credit issuer 14 via the merchant 18. In addition,the input data 34 from the consumer 16 will also be accepted at thisscreen or portion of the transaction, and will be responsive to theapplication data 36 and questions on the application.

Further, as seen in FIG. 2, the interactive interface 28 is incommunication with the central database 22 and used to display datafields 24 populated with data reflecting terms and conditions data 38relating to the credit product 12, and/or card member agreement data 40,also relating to the credit product 12. This terms and conditions data38 and card member agreement data 40 would be presented or displayed tothe consumer 16 after processing of the input data 34 of the consumer 16related to the application and application data 36 of the credit product12. In response to this terms and conditions data 38 and card memberagreement data 40, the consumer 16 provides additional input data 34,such as an acknowledgment that he or she has read, understood and agreesto the terms and conditions data 38 and card member agreement data 40.

Finally, in one preferred and non-limiting embodiment, result data 42 ispresented or provided to the consumer 16. For example, this result data42 may include some indication of success of the establishment of thecredit product 12 account, or even, as shown in FIG. 2, an indicationthat the credit product 12 has been activated and has been used inconnection with the present transaction, thereby completing thetransaction. Importantly, all of these consumer 16/merchant 18/creditissuer 14 interactions have occurred directly at the interactiveinterface 28 and in connection with the merchant 18 website orpoint-of-sale, without the requirement for communications between theconsumer 16 and the credit issuer 14, or a redirect to the credit issuer14 site.

As discussed above, the interactive interface 28 is in communicationwith the central database 22, whether the central database 22 is locatedat the merchant 18 point-of-sale (or site) or the central system 30location (or site). In addition, the interface 28 is programmed orconfigured to appropriately format and display various data fieldspopulated with data. For example, such data may include interest ratedata, credit limit data, purchase data, charge data, cost data, expensedata, annual fee data, interest accrual data, statement data, accountdata, fund advancement data, transfer data, delinquency data, paymentterm data, account review data, credit product data, credit issuer data,contract data, liability data, certification data, privacy data,personal information use data, collected information data, consent data,foreign data, access data, online service data, phone service data,liability data, representation data, warranty data, termination data,indemnity data, term variation data, communication data, assignmentdata, rights data, governing law data, or any combination thereof.

In another embodiment, and as discussed above, the interface 28 is incommunication with the central system 30, such as a consumer processingsystem, which either is in communication with or acts as the repositoryfor the central database 22. Further, other than merely housing thecentral database 22, the central system 30 may have additionalfunctionality. For example, the central system 30 may be programmed orconfigured to authenticate the consumer 16, verify the consumer 16,approve or deny a consumer 16 application (based upon the consumer inputdata 34), verify the transaction, process consumer 16 data, processmerchant 18 data, process credit issuer 14 data, process transactiondata and/or process credit product 12 data. Accordingly, the centralsystem 30 may be capable of engaging in the various verification,authentication and similar functions with respect to the consumers 16,merchants 18 and credit issuers 14.

As discussed above, the consumer input data 34 may be provided by theconsumer 16 to the central system 30, central database 22, merchant 18and/or credit issuer 14 as responsive to offer data 32, application data36, terms and conditions data 38, card member agreement data 40, resultdata 42, etc. For example, the consumer input data 34 may includemultiple data fields populated with data reflecting a name, a consumerkey, a consumer identification, an account number, an address, a city, astate, a zip code, a country, a telephone number, an e-mail address, asocial security number, a date of birth, the merchant's name, anidentification, an order number, an authorization number, anauthorization time, an authorization amount, a ship-to address, abill-to address, a transaction amount, a consumer purchase demographic,a transaction date, a transaction type, a product identification, aservice identification, shipping costs, delivery type, consumer type, acompany identity, a merchant identity, previous transaction data,geographical data, credit account data, bankcard balance data,delinquency data, credit segment data, previous transaction data, timebetween transactions data, previous transaction amount, previoustransaction approval status, previous transaction time stamp data, aresponse code, consumer payment method, consumer payment history,consumer account history, consumer credit account balance, income data,family data, employment data, relationship data, expense data,application data, acknowledgement data, selection data, choice data, orany combination thereof.

In another aspect of the present invention, and as illustrated in FIG.3, during the transaction, the consumer 16 supplies certain consumerdata 44 (such as input data 34) while engaged in certain portions orsteps in the transaction process. For example, the consumer 16 may,during the course of the transaction, provide his or her name, address,e-mail, authorized billing amount, bill-to-address, ship-to-address,etc. Therefore, in connection with the present invention, when the datafields 24 are presented to the consumer 16 at the interactive interface28, such as offer data 32, application data 36, etc., certaininformation has already been provided by the consumer 16 at the merchant18 location.

Therefore, and as shown in operation in FIG. 3, the consumer 16 may beprovided with one or even a variety of credit products 12, and afterselecting the appropriate credit product 12, the application data 36 orapplication is presented to the consumer 16 at the interactive interface28. Accordingly, as shown in the example of FIG. 3, the consumer 16 hasselected credit product A, and the system 10 has presented theapplication or application data 36 to the consumer 16. However, variousdata fields 24, as discussed above, have been obtained from the consumer16 during the transaction. Therefore, these data fields 24 may bepre-populated at the point of application, and would not require theconsumer 16 to duplicate any data entry. In particular, in thisembodiment, various consumer data 44 is taken and transferred from aconsumer interaction page 46 that has already been completed by theconsumer 16 with this consumer data 44. Accordingly, this consumer data44 is placed in the appropriate portions and data fields 24 of theapplication. Of course, the consumer 16 may modify this consumer data 44if desired, however the pre-population provides an extra convenience tothe consumer 16 and facilitates a smoother transaction and creditproduct 12 acquisition process.

The consumer interaction page 46 during the transaction may take variousforms. For example, the consumer interaction page 46 may be anapplication, a survey, a questionnaire, an acknowledgment, a form, amodifiable form, a template, etc. However, due to the locality of thepresently-invented method and system 10, namely at the point-of-sale,this consumer data 44 is easily utilized and pre-populated whereappropriate.

In operation, and as shown in FIG. 4 in schematic form, the consumer 16and merchant 18 are engaged in a transaction. Next, one or more creditproducts 12 are offered to the consumer 16 at the point-of-sale of themerchant 18. The appropriate information and data, namely theappropriate data fields 24 of the credit issuer data set 20, is providedto the consumer 16. Next, offer input data 34 is obtained from theconsumer 16, which is directed to the credit product 12 offer. If theconsumer 16 accepts the offer, the system 10 next presents, to theconsumer 16, terms and conditions data 38 and/or card member agreementdata 40. Accordingly, responsive to this presentation, the consumer 16provides additional input data 34, such as acknowledgment input data 34.

Prior to presentation of the terms and conditions data 38 and cardmember agreement data 40, and as discussed above, an application orapplication data 36 may be presented or provided to the consumer 16.Therefore, additional application input data 34 is received from theconsumer 16. Accordingly, based upon the appropriate processes run ateither the merchant 18 site, or more preferably the central system 30(or even at the credit issuer 14 site), the application is approved ordenied based upon the application input data 34. If approved, an accountmay be established and opened for the consumer 16 for the credit product12 of the credit issuer 14. However, if denied, some denial data orappropriate indication is delivered or presented to the consumer 16. Itis further envisioned that the central system 30 may determine consumerrisk data or perform other risk analysis, verification, authentication,etc., based on the offer input data 34, the acknowledgment input data34, the application input data 34, or any combination thereof.

Turning to FIG. 5, and in one preferred and non-limiting embodiment, thecentral database 22 is located or housed within the central system 30.In addition, multiple credit issuers 14 include individual and specifiedcredit issuer data sets 20. For example, these individual credit issuerdata sets 20 represent a subset of data including the data fields 24,which are populated with data reflecting the specified credit issuer 14and/or credit product 12. In one embodiment, the credit issuer 14 iscapable of configuring, programming, modifying and otherwisemanipulating this subset of data, or specified individual credit issuerdata set 20, for the credit issuer 14.

In another embodiment, the credit issuer 14 engages in the transmissionof this subset of data or the credit issuer data set 20, in order tomaintain absolute control over such data. Therefore, this subset may beequal to the credit issuer data 20 or be another set of data that ismodifiable and requires a higher level of access by the credit issuer14. Of course, any level of credit issuer 14 access to the centraldatabase 22 is envisioned, given the appropriate security measures.

In the embodiment of FIG. 5, the individual credit issuer data sets 20are transmitted to the same or a duplicate central database 22 at themerchant 18 site over the network N. Accordingly, the merchant 18 is incommunication with or maintains a merchant database 48, which is incommunication with the central database 22. In operation, during thetransaction, the subset of data or credit issuer data set 20 isaccessible by and through the merchant database 48 for presentation tothe consumer 16. In addition, the merchant database 48 may be maintainedor updated on a specified basis, a periodic basis, a predeterminedbasis, a dynamic basis, etc. Accordingly, such a system allows multiplecredit issuers 14 to provide multiple credit products 12 to the consumer16 through the merchant 18 at the point-of-sale.

As seen in FIG. 6, the present invention is also directed to a system 10for offering at least one credit product 12 by at least one creditissuer 14 to a consumer 16 at a point-of-sale between a merchant 18 andthe consumer 16. This system 10 includes a storage mechanism 100, whichincludes the central database 22. One or more input mechanisms 102 areprovided for transmitting, to the storage mechanism 100, the creditissuer data set 20, having the multiple data fields 24 therein. Aprocessor mechanism 104 is included and used and configured orprogrammed to process data input, data requests, data manipulation, datatransmission, etc. A merchant output mechanism 106 is used andconfigured or programmed to present, to the consumer 16 at thepoint-of-sale, the one or more data fields 24 of the credit issuer dataset 20. In addition, as discussed above, the data fields 24 arepopulated with data directed to the credit product 12.

The input mechanism 102 may also be used on the merchant 18 side fortransmitting a request, from the merchant 18, for the data fields 24 ofthe credit issuer data set 20. Of course, this assumes the embodimentwhere the central database 22 and storage mechanism 100 are at thecentral system 30, as opposed to at the location of or under the controlof the merchant 18. In addition, the system 10 may include acommunication mechanism 108 for transmitting, to the merchant 18, thedata fields 24 and credit issuer data set 20 from the central database22, which is responsive to the merchant 18 request. Of course it isfurther envisioned that the credit issuers 14 have an appropriate inputmechanism 102 for providing their individualized subsets of data orindividualized and specific credit issuer data sets 20 and/or datafields 24 to the central database 22 on the storage mechanism 100.

In this manner, the present invention provides a method and system 10for offering one or more credit products 12 by one or more creditissuers 14 to a consumer 16 at a point-of-sale with a merchant 18.Accordingly, during the transaction process, appropriate data fields 24from the credit issuer data set 20 is presented or provided to theconsumer 16 at the point-of-sale, and these data fields 24 are timely,accurate, complete and verified by the respective credit issuers 14 forthe credit product 12. In an electronic transaction, the consumer 16does not need to leave, initiate direct communication with or beotherwise directed to a credit issuer 14 site or other third partylocation. Instead, the merchant 18 maintains control over the consumer16, but also presents the most appropriate and accurate data fields 24thereto. Therefore, the present invention provides a seamless andefficient credit transaction between a consumer 16 and a credit issuer14 at the point-of-sale between the merchant 18 and the consumer 16. Inaddition, the present invention ensures that the data fields 24 and/orcredit issuer data set 20 presented to the consumer 16 meets theapproval of the credit issuers 14, who are ultimately in control ofthese data fields 24.

Although the invention has been described in detail for the purpose ofillustration based on what is currently considered to be the mostpractical and preferred embodiments, it is to be understood that suchdetail is solely for that purpose and that the invention is not limitedto the disclosed embodiments, but, on the contrary, is intended to covermodifications and equivalent arrangements that are within the spirit andscope of the appended claims. For example, it is to be understood thatthe present invention contemplates that, to the extent possible, one ormore features of any embodiment can be combined with one or morefeatures of any other embodiment.

The invention claimed is:
 1. A consumer device comprising: acommunication module configured to communicate with a central databaseand a merchant online location; a non-transitory memory storinginstructions; a display; and one or more hardware processors coupled tothe non-transitory memory and configured to read the instructions fromthe non-transitory memory to cause the consumer device to performoperations comprising: initiating, via the communication module, atransaction for a consumer on the consumer device at the merchant onlinelocation; and presenting, using an interactive interface of the display,one or more credit products to the consumer on the consumer device atthe merchant online location during the transaction, the one or morecredit products being transmitted from the central database, wherein thetransmission of the one or more credit products causes the merchantonline location, via the interactive interface, to present the one ormore credit products without redirecting the consumer from the merchantonline location to a third party site during the transaction to presentthe one or more credit products, receive an application from theconsumer for at least one of the one or more credit products, andconsummate the transaction.
 2. The consumer device of claim 1, whereinthe operations further comprise: receiving a selected credit productfrom among the one or more credit products for the application, via theinteractive interface; transmitting, via the communication module, theapplication identifying the selected credit product to the merchant fortransmission to a credit issuer of the selected credit product; andreceiving, via the communication module from the merchant,acknowledgment that the application was successful and that thetransaction has been processed using the selected credit product.
 3. Theconsumer device of claim 1, wherein a credit issuer is allowed tomaintain control over data related to the one or more credit productswhile allowing the merchant to retain the interaction with the consumer.4. The consumer device of claim 1, wherein the display displayspre-population of consumer data during the application for the one ormore credit products of a consumer-credit issuer transaction.
 5. Theconsumer device of claim 1, wherein the communication module isconfigured to receive a credit issuer data set comprising multiple datafields from the merchant while at the point of sale website of themerchant during the transaction.
 6. The consumer device of claim 5,wherein the display presents the multiple data fields to the consumer atthe merchant online location during the transaction, wherein themultiple data fields are populated with data directed to at least one ofthe one or more credit products and a credit issuer.
 7. The consumerdevice of claim 5, wherein the display presents information includingthe multiple data fields to the consumer via the interactive interfaceon the consumer device.
 8. The consumer device of claim 5, wherein thecommunication module is further configured to receive an updated creditissuer data set, the updated credit issuer data set being sent from atleast one credit issuer is received to the central database for releaseto the merchant and eventually the consumer.
 9. The consumer device ofclaim 1, wherein the operations further comprise processing consumerinputs received via the interactive interface.
 10. The consumer deviceof claim 1, wherein the display displays a credit issuer data setcomprising multiple data fields, wherein the data fields are populatedwith data reflecting one or more offers for the one or more creditproducts to the consumer.
 11. The consumer device of claim 1, whereinthe display presents result data to the consumer, wherein the resultdata further comprises an indication of success of establishment of theone or more credit products, or an indication that the one or morecredit products has been activated and has been used in connection withthe transaction.
 12. The consumer device of claim 1, wherein theconsumer, the merchant, or one or more credit issuers are verified orauthenticated.
 13. The consumer device of claim 1, wherein theoperations further comprise at least one of: transmitting authenticationinformation, via the communication module to the merchant fortransmission to the central database, and receiving confirmation ofconsumer authentication; and transmitting consumer verificationinformation, via the communication module to the merchant fortransmission to the central database, and receiving verification of theconsumer based on the transmitted verification information.
 14. A methodcomprising: receiving, by a processor of a central system, a transactionrequest for a transaction from a merchant online location for a consumerat a consumer device accessing the merchant online location; accessingby the processor, one or more credit products available for presentationto consumers; transmitting, by the processor, the one or more creditproducts to the merchant online location for presentation to theconsumer via the accessing consumer device during the transaction,wherein transmission of the one or more credit products causes themerchant online location to present the one or more credit products tothe consumer from the merchant online location via the accessingconsumer device and receive consumer input in response to the presentingwithout redirecting the consumer from the merchant online location to athird party site during the transaction; receiving, by the processor,the consumer input from the merchant online location in response to themerchant online location receiving the consumer input from the consumer;and processing, by the processor, the consumer input comprising anapplication for at least one of the one or more credit products, and aremaining portion of the transaction, such that the merchant retainsinteraction with the consumer without redirecting the consumer to thethird party site during the transaction.
 15. The method of claim 14,further comprising processing the transaction using the one or morecredit products.
 16. The method of claim 14, further comprising allowinga credit issuer to maintain control over data related to the one or morecredit products while allowing the merchant to retain the interactionwith the consumer.
 17. The method of claim 14, further comprisingallowing pre-population of consumer data during the application for theone or more credit products of a consumer-credit issuer transaction. 18.The method of claim 14, further comprising presenting multiple datafields to the consumer at the point of sale during the transaction,wherein the multiple data fields are populated with data directed to atleast one of the one or more credit products and a credit issuer. 19.The method of claim 14, further comprising receiving an updated creditissuer data set from at least one credit issuer for release to themerchant and eventually the consumer.
 20. A central system comprising: anon-transitory memory storing a central database that communicates witha merchant's point of sale, an interactive interface of a consumerdevice that accepts consumer input data, and at least one credit issuerserver, wherein the central database is adapted to receive credit issuerdata; and one or more hardware processors coupled to the non-transitorymemory storing the central database and configured to read instructionsfrom the non-transitory memory to cause the system to perform operationscomprising: receiving, from the merchant's point of sale, a transactionrequest for a transaction for a consumer accessing the merchant's pointof sale; accessing, from the central database, one or more creditproducts based on the credit issuer data; transmitting the one or morecredit products to the merchant's point of sale for presentation to theconsumer at the merchant's point of sale via the interactive interfaceduring the transaction, wherein the transmission of the one or morecredit products causes the merchant's point of sale to present the oneor more credit products to the consumer from the merchant's point ofsale via the interactive interface of the consumer device and receiveconsumer input in response to the presenting without redirecting theconsumer from the merchant's point of sale to a third party site duringthe transaction; and processing the consumer input comprising anapplication for at least one of the one or more credit products, and aremaining portion of the transaction, such that the merchant retainsinteraction with the consumer via the interactive interface withoutredirecting the consumer to the third party site during the transaction.